Selling an unincorporated business

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Selling an unincorporated business by Mind Map: Selling an unincorporated business

1. The tax consequences of the sale

1.1. Income tax

1.2. Capital gains tax

1.3. VAT

1.4. SDLT

2. Capital gains tax planning on a sale

2.1. Losses and annual exemption

2.2. Business asset disposal relief

2.3. Rollover relief

2.4. Rollover relief on transfer of business

2.5. Loan notes

2.6. Earn-outs

2.7. Other deferral reliefs

3. Pre-sale planning: other taxes

3.1. IHT

3.2. Capital allowances

3.3. Stock and debtors

4. Sale

4.1. Due diligence

4.2. Warranties and indemnities

4.3. Documentation

5. Post sale

5.1. Reporting requirements

5.2. VAT deregistration

5.3. Claiming reliefs